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Technology Stocks : CMGI What is the latest news on this stock?
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To: StockDoc who wrote (14083)11/16/1999 3:22:00 PM
From: Brian Malloy  Read Replies (1) of 19700
 
Stockdoc, from your post I can understand where you are comming from. All I can say is that you must find your own comfort level.

If necessary it may be better for you to sell part of your CMGI and put it into AOL or YHOO or other blue chip inets if it can help you sleep better.

You can use tax strategies, such as double the amount of CMGI shares that you have now and then sell the ones purchased at $150 in 31 days. You will be able to recoup whatever your current tax rate is on the loss, write off part against other cap gains and effectively lower your average cost per share of CMGI down to the $117 area.

What I do believe strongly is we have hit a favorable time of the year in terms of seasonality. Yes, there will be oscillations but this market is heading higher in a powerful way as we move into the new year. Money from Asia and Europe is commining into the U.S. The current move in the NAZ at least has been fueled by over 21Billion in fresh cash. We may already be in the millenium melt-up at least for the techs.

Once we are in Y2K, the potential panic is over. People holding money on the sidelines will put some of it into the market. This has been a good year in business and on Wall Street, part of the Christmas and New Year's bonus money will come in and most importantly the initial inflow of 401 and IRA monies will be put to work.

So bottom line, regardless of which stocks you choose, or tax strategies employed, try to remain invested in quality names. By investing over the long term, the hills and valleys that come with exposure to the market and in particular the high Beta stocks will smooth out and show higher highs over time.

Regards,

FWIW, an analysts opinion below:
TAUB TALK: Lehman Says Tech Still Tops
editor: Steve Taub 11/16/99

So, is it time for tech to take a breather? You can?t blame investors for asking this question.
...
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